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Prospector
Profile
07.1089
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| e.Digital Corporation |
NAICS |
334310 |
| 16770 West Bernardo Drive
San Diego, CA 92127 |
Description |
Video Equipment Mfg. |
| (858) 304-3016 |
Employees |
15 |
| http://www.edigital.com/ |
Revenue |
(mil) |
1.8150 |
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Income |
(mil) |
-3.2520 |
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Assets |
(mil) |
1.7560 |
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Liability |
(mil) |
3.1930 |
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(for the year ended 2007-03-31) |
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Category:
Audit Concerns
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Event:
After auditing its financial statements, Singer Lewak Greenbaum & Goldstein LLP notes that e.Digital Corporation has incurred significant losses and negative cash flow from operations in each of the last three years. The Company has an accumulated deficit of $80,362,521 and a working capital deficiency of $1,347,367 at March 31, 2007. The auditor believes that the Company’s ability to continue as a going concern is in substantial doubt and is dependent upon obtaining additional financing and achieving a profitable level of operations.
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Intellectual Property:
The Company has five issued U.S. patents covering its MicroOS file management software and certain technology related to the use of flash memory in portable digital devices. Its software is also protected by copyrights. The Company relies primarily on a combination of patents, copyright and trade secret protection together with licensing arrangements and nondisclosure and confidentiality agreements to establish and protect proprietary rights. The Company has designed and developed proprietary hardware encryption technology for content protection and currently has a patent application pending with the U.S. Patent Office for this technology. The Company has also filed a number of trademark applications with the U.S. Patent and Trademark Office. It has received notification of allowance from the U.S. Patent Office for use of e.Digital™, MicroOS™, Smart Solutions for a Digital World(Service Mark), VoiceNav®, Music Explorer®, MXP™, Flashback®, Hold That Thought®, Fumble Free® and SoundClip® as registered trade names. [SEC Filing 10-KSB 06-29-07]
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Description:
The Company provides digital video/audio technology (DVAP) platform for use in the production of complex portable electronic products.
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Officers:
Alex Diaz (Chair); William Blakeley (pres. & Chief Technical Officer); Robert Putnam (SVP, CFO, Sec. & Dir.); Renee Warden (Dir.); Allen Cocumelli (Dir.)
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Auditor:
Singer Lewak Greenbaum & Goldstein LLP
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Securities:
Common Stock-Symbol EDIG.OB; OTC BB;
245,415,499 common shares outstanding as of June 28, 2007.
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